Originally Posted by Hammock Parties:
damn, already made back all the money i took out of my roth to help with paying for the house
IRAs rock!
I've got a younger relative who is prudent with his money, but he's keeping his savings in a savings account at 0.1 percent interest. I'm trying to talk the guy into getting into stocks, but he's not familiar with them and is wary. It's killing me. [Reply]
Originally Posted by Rain Man:
I've got a younger relative who is prudent with his money, but he's keeping his savings in a savings account at 0.1 percent interest. I'm trying to talk the guy into getting into stocks, but he's not familiar with them and is wary. It's killing me.
I'm not one to talk, I (up until I bought some land) had an uncomfortable amount of money in a savings account. But I was doing it for the aforementioned land purchase. I was close several times to putting it in SPY which would have been the move in hindsight, but I couldn't take the risk.
Can't you just knock out a compounding return spreadsheet in like 30 seconds comparing his return to even a conservative 5% return. I think the long term stock market return is 8. Or just convince him to open a brokerage account and put SPY in and see for himself?
I mean, you can get a little more intrusive since he's your relative. [Reply]
Originally Posted by neech:
One could buy on the dip, I thought about that on Zillow.
Buying a “dip” because a stocks looks on sale is dangerous without knowing a bottom. See if it trends sideways or shows a reversal pattern before guessing. [Reply]
Originally Posted by lewdog:
Buying a “dip” because a stocks looks on sale is dangerous without knowing a bottom. See if it trends sideways or shows a reversal pattern before guessing.
Originally Posted by lewdog:
Buying a “dip” because a stocks looks on sale is dangerous without knowing a bottom. See if it trends sideways or shows a reversal pattern before guessing.
Well you wait to see when the is chart going up you see.
Got stopped out of that a long time ago but saw it still listed on one of my watch lists. I made some decent money off that a couple years ago. [Reply]